May
09
Axa Equitable Raises $2.75 Billion in Biggest 2018 U.S. IPO
By-
Insurer’s shares price at $20, short of $24-$27 range
- Offering still tops Pagseguro Digital, iQiyi listings
Axa Equitable Holdings Inc., encompassing the American operations for French insurance giant Axa SA, fell almost $1 billion short of its targeted share sale in what was still the biggest U.S. initial public offering of the year.
Axa Equitable Holdings raised $2.75 billion, selling 137.25 million shares for $20 each. That was short of its targeted range of $24 to $27 apiece. The proceeds from the listing will help its French parent company fund its biggest-ever acquisition: a $15.3 billion takeover of XL Group Ltd.
Axa Equitable Raises $2.75 Billion in Biggest 2018 U.S. IPO
